New Emirates NBD facility for Palm residents

Dubai: Emirates NBD, the largest banking group in the Middle East in terms of assets, announced yesterday that it has entered into an agreement with the Palm Utilities Group to facilitate the electronic bill payment for Palm residents.

As a result of a strategic agreement with the Palm Utilities group, the Palm residents will soon have the convenience of paying their water, sewage and district cooling bills through the group's broad electronic channel network that includes ATMs, CDMs, SMS and Internet banking services available for individuals through (BankNet), and for corporate clients through Smart Business, the bank said in a statement.

The agreement, which comes into effect from September 2008, is the latest initiative by Emirates NBD to ensure that all existing customers benefit from the group's electronic infrastructure which helps making their lives easier.

Crucial services

"The Palm Utilities Group provides crucial services to many of the largest and most prestigious developments in the Arabian Gulf including The Palm Jumeirah, The World Project and The Jumeirah Golf Estates to name a few, and we are glad to collaborate with them and take our service to a new level," said Suvo Sarkar, General Manager for Retail Banking at Emirates NBD.

The holding company for Palm District Cooling (PDC) and Palm Water (PW), Palm Utilities was formed in 2007 to provide direction, management and support functions for the two business units.